Every little Alps

15 March 2013 By George Hay Follow @gfhay

The Italian bank repatriated 1 bln euros more than expected from its German branch. HVB remains over-capitalised due to the Italian jitters of regulator BaFin. In spite of the political mess in Rome, this may be a sign that the banking balkanization of Europe is receding.

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UniCredit will review its business targets in light of the exceptionally difficult economic environment, it said on March 15 after setting aside nearly 10 billion euros ($13 billion) to cover for rising bad loans.
Italy’s biggest bank by assets also said it was selling its Kazakh unit ATF Bank, confirming what three sources familiar with the matter had told Reuters on Thursday, but did not give a price.
UniCredit posted a loss in the fourth quarter of 2012 of 553 million euros ($717.8 million), compared with an analyst consensus distributed by the bank for a 173 million euro loss.

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